Financial Consumer Agency of Canada

Financial Consumer Agency of Canada

September 07, 2010 12:23 ET

The City Contest Provides Another Incentive to Teach Financial Literacy

FCAC to Award SMART Board™ and Laptops to Winners

OTTAWA, ONTARIO--(Marketwire - Sept. 7, 2010) - Teachers and students can gain something extra from their classroom work this year if they enrol in The City, an online interactive resource that teaches basic financial skills.

Teachers who register in the program can enter a draw to win a SMART Board™, while students can win one of three laptop computers. To be eligible, students and teachers in any Canadian province or territory must register and participate in The City before November 30, 2010. The contest rules are available on our website, or can be obtained by calling the FCAC Consumer Contact Centre toll-free at 1-866-461-3222.

The City is a free, Web-based learning program developed by the Financial Consumer Agency of Canada (FCAC) and the British Columbia Securities Commission (BCSC) in order to help educators teach young people financial skills that will be useful to them throughout their lives. It is a great way for students to learn more about the difference between their wants and needs, budgeting, managing money, keeping expenses in line, building savings, using credit wisely and the basics of insurance and investments. They also learn how to avoid getting into debt and becoming a victim of fraud. If the students learn from mistakes made in the virtual world, they can avoid making what could be a costly mistake in the real world.

Our Success Stories videos offer more information on how teachers and students are using The City. For example, Lucy Johnson, a teacher from Coaldale, Alberta, talks about the positive feedback she hears from students about the program. Isabelle, Vincent, Nicholas and Trevor, four high school students from New Brunswick, also share their experience with the program.

FCAC's gateway to financial education, The Money Belt, also has lots of tips, quizzes and interactive resources for teachers, students and parents. Plus, we've added "Tips to manage your back-to-school finances" to our "News" section.

About FCAC

Using educational materials and interactive tools, FCAC provides consumers with objective information about financial products and services and informs them of their rights and responsibilities when dealing with banks and federally regulated trust, loan and insurance companies. Through its financial literacy program, FCAC also helps Canadians acquire the necessary knowledge and confidence to manage their personal finances. FCAC also makes sure that federally regulated financial institutions and payment card network operators comply with legislation and agreements intended to protect consumers.

For more information on the contest or on FCAC, you can reach us through the FCAC Consumer Contact Centre by calling toll-free 1-866-461-3222 (TTY: 613-947-7771 or 1-866-914-6097) or by visiting our website: fcac.gc.ca.

Tomorrow, September 8th is International Literacy Day and the Financial Consumer Agency of Canada would like to highlight the importance of financial literacy as well

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